Enhancing audit quality (EAQ) initiative: Auditor independence working group

Learn more about the Auditor Independence Working Group (IWG), one of the three working groups of the Enhancing Audit Quality (EAQ) initiative.

The IWG consulted with global stakeholders during the period of October-November 2012 for input on global proposals to enhance audit quality by strengthening auditor independence, specifically focusing on options relating to the appointment and rotation of auditors and the services they provide.

The IWG made major proposals in these areas:

  • alternatives to address institutional familiarity threats:
  • mandatory audit firm rotation
  • mandatory tendering
  • mandatory comprehensive audit firm review by audit committees
  • non-audit services
  • audit-only firms
  • joint audits

IWG documents:

IWG members:

Chair

Peter Mills, Q.C., JD, ICD.D
Corporate Director
Toronto

Members

William R. Brushett, FCPA, FCA
Grant Thornton, LLP
Toronto

Patrick Crowley, CPA, CA, ICD.D.
OMERS
Toronto

Gary B. Hannaford, FCA
Institute of Chartered Accountants of Manitoba
Winnipeg

Jane E. Kinney, FCPA, FCA
Deloitte & Touche, LLP
Toronto

Andrew Kriegler, MBA
CIBC
Toronto

Paul R. Weiss, FCPA, FCA
Corporate Director
Toronto

Observer

Kenneth Vallillee, FCPA, FCA
CPAB
Toronto

Project coordinators

Robert J. Muter, FCPA, FCA
PricewaterhouseCoopers, LLP
Toronto

Ron Salole
CPA Canada
Toronto

Axel N. Thesberg, FCPA, FCA
KPMG, LLP
Toronto

Project manager

Melissa E. Langlois, BSc, CPA, CA
Deloitte & Touche LLP
Markham, Ontario